Fine Gael has been accused of failing to address the housing market.

Fianna Fáil Spokesperson on Housing, Planning and Local Government, Barry Cowen, said the market is dangerously close to pricing out average income earners in the country after a Daft.ie report revealed house prices are continuing to rise.

He said: "25,000 homes need to be built every year, including 10,000 in Dublin to meet existing demand. In 2016, less than half that, with an even poorer return in Dublin, were realised.

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"The Government cannot rely on wishful thinking, and glossy action plans to build the houses that are so desperately needed.

"The Government, to date, have failed to cool down the housing market by ensuring that those wishing to build private housing can do so in a sustainable way.

"All too often, developers will cite the high costs associated with planning and meeting regulations as one of the reasons why house prices are increase.

"Last November, Minister Coveney agreed to an independent review of building costs. This needs to be finalised as quickly as possible.

"Unless the Government commits to reducing this burden, and also commits to increasing its own construction of public housing, those in the 20s and 30s will never have the option of owning their own home."

(CD/LM)